MercadoLibre, Inc. $MELI Stake Lessened by NewEdge Advisors LLC

NewEdge Advisors LLC lessened its holdings in MercadoLibre, Inc. (NASDAQ:MELIFree Report) by 19.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,838 shares of the company’s stock after selling 943 shares during the period. NewEdge Advisors LLC’s holdings in MercadoLibre were worth $6,636,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Brown Advisory Inc. raised its holdings in shares of MercadoLibre by 2,494.9% during the fourth quarter. Brown Advisory Inc. now owns 15,362 shares of the company’s stock worth $30,943,000 after acquiring an additional 14,770 shares in the last quarter. Thompson Siegel & Walmsley LLC grew its stake in MercadoLibre by 238.3% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 2,030 shares of the company’s stock valued at $4,089,000 after purchasing an additional 1,430 shares in the last quarter. TIAA Trust National Association grew its stake in MercadoLibre by 10.9% in the fourth quarter. TIAA Trust National Association now owns 11,011 shares of the company’s stock valued at $22,179,000 after purchasing an additional 1,083 shares in the last quarter. Deepwater Asset Management LLC increased its position in MercadoLibre by 38.6% in the 4th quarter. Deepwater Asset Management LLC now owns 7,765 shares of the company’s stock worth $15,641,000 after purchasing an additional 2,164 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co increased its position in MercadoLibre by 28.0% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 3,200 shares of the company’s stock worth $6,446,000 after purchasing an additional 700 shares during the last quarter. 87.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MercadoLibre

In related news, Director Alejandro Nicolas Aguzin acquired 600 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was bought at an average cost of $1,655.93 per share, with a total value of $993,558.00. Following the completion of the acquisition, the director owned 5,355 shares in the company, valued at $8,867,505.15. The trade was a 12.62% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

MercadoLibre Trading Up 0.2%

Shares of MELI stock opened at $1,824.34 on Tuesday. MercadoLibre, Inc. has a 12 month low of $1,495.00 and a 12 month high of $2,548.50. The company has a quick ratio of 1.10, a current ratio of 1.12 and a debt-to-equity ratio of 0.53. The company has a market cap of $92.49 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 1.13 and a beta of 1.34. The business’s 50 day moving average is $1,749.73 and its two-hundred day moving average is $1,793.59.

MercadoLibre (NASDAQ:MELIGet Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $9.19 EPS for the quarter, topping analysts’ consensus estimates of $8.65 by $0.54. The firm had revenue of $10.17 billion during the quarter, compared to analysts’ expectations of $9.79 billion. MercadoLibre had a net margin of 5.30% and a return on equity of 26.54%. The company’s revenue for the quarter was up 49.8% compared to the same quarter last year. During the same quarter last year, the company earned $10.31 earnings per share. Equities analysts predict that MercadoLibre, Inc. will post 40.69 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MELI. Raymond James Financial set a $2,000.00 price target on MercadoLibre in a report on Friday, May 8th. UBS Group cut their price objective on shares of MercadoLibre from $2,050.00 to $1,750.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 13th. Morgan Stanley reduced their target price on shares of MercadoLibre from $2,600.00 to $2,450.00 and set an “overweight” rating for the company in a research note on Monday, May 11th. Cantor Fitzgerald increased their price target on shares of MercadoLibre from $2,150.00 to $2,300.00 and gave the stock an “overweight” rating in a research note on Thursday, August 6th. Finally, Zacks Research upgraded shares of MercadoLibre from a “strong sell” rating to a “hold” rating in a report on Monday, July 13th. Eleven equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $2,255.33.

Check Out Our Latest Research Report on MercadoLibre

MercadoLibre Company Profile

(Free Report)

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.

Further Reading

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Institutional Ownership by Quarter for MercadoLibre (NASDAQ:MELI)

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